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L-carnitine Market Analysis
- Report ID: GMI6328
- Published Date: Jul 2023
- Report Format: PDF
L-carnitine Market Analysis
L-carnitine market size from the functional drinks segment is estimated to hold substantial revenue share by the end of 2032, owing to the rising efforts placed by individuals on leading balanced and health-conscious lifestyles. L-carnitine offers potential benefits, such as improved exercise performance while promoting weight management and enhancing the overall energy levels. The growing focus of leading players on introducing functional beverages to cater to the rising nutritional requirements of consumers will drive the segment growth. For instance, in February 2022, well-known sports nutrition brand, Applied Nutrition launched Carni-Tone, its new L-Carnitine ready-to- drink product.
The feed-grade segment recorded over 68% of the L-carnitine market share in 2022, on account of its ability to strengthen the immune system, boost growth promotion and improve the antioxidant effects as well as semen quality, feed-grade L-carnitine is extensively used for poultry production. Increasing incorporation in pet specialty premium pet foods to improve the health and well-being of dogs and cats will also play a key role in the market value. For instance, in March 2021, Natural Balance® launched its new Targeted Nutrition dog and cat food line, comprising On The Move™ and Fat Dogs® made from natural ingredients, including L-carnitine, to help support digestion, movement, and mood.
North America L-carnitine market size reached USD 63.9 million in 2022, attributed to the changing consumer preferences in the region. The rising health and fitness trends have led to the high intake of dietary supplements and functional foods, mainly in the U.S. and Canada. As per a latest study by the U.S. Centers for Disease Control and Prevention, over one third of children consume dietary supplements. Growing advances in scientific research coupled with the strong presence of well-established health and wellness sector will also anchor the regional industry demand.
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L-carnitine Market Scope
